Jan petchem model margin of Poland’s Orlen ‘very robust’ - bank

05 February 2013 10:49[Source: ICIS news]

LONDON (ICIS)--PKN Orlen’s model petrochemical margin in January rose to €744/tonne ($1,005/tonne) from €716/tonne in December 2012 and compared to the €529/tonne recorded for January 2012, the Polish group said on Tuesday.

“The petchems model margin was very robust, up slightly month on month and some 40% stronger year on year, versus a very poor base a year ago,” said investment bank WOOD & Company in a note to investors on the latest figure.

On 28 January, Erste Group Bank placed a ‘Sell’ rating on Orlen’s stock, saying its model petrochemical margin would come under pressure this year.